JOB DESCRIPTION :
Role : Concept Finance Manager
Department : Concept Finance
Band : Manager
Grade : A6-1 / M1
Designation : Asst. Mgr. / Manager
Education : ICWA / CA / MBA (Finance)
Experience : 3 - 5 years of experience in finance, preferably in retail
Location : Corporate
Reports To : Concept Finance Lead
Role Summary :
- Provide support in financially guiding the concepts to achieve the sell through, budgeted margins, revenue assurance, brand profitability and maintain inventory as per defined norms
Summary of Role Responsibilities :
- Align with the Concept Finance Leads on the budgeted sales and margins
- Review and ensure the approved season wise OTB and inward pattern is updated in RMS (Retail Merchandising System)
- Monitor inwards against norms (OTS and OTIF) and highlight exceptions
- Report on the season wise intake margins for the private brands
- Validate the PO for the external brands and follow up to ensure the PO is released as per the agreed margins
- Review and ensure EOSS discounting guidelines are implemented as per agreed process
- Review and ensure promos are implemented as per defined guidelines
- Perform and share the promotion CBA with relevant stakeholders
- Provide support in analyzing the brand profitability improvement plan
- Prepare the forward cover and sales and margin report
- Generate and validate the MIS as per defined timelines
- Provide provisions and debit confirmations towards various recoveries
- Provide support in reconciliation of brands- accounts (private and external)
- Track and ensure full and final settlement for exiting brands is done as per the defined process
Key Job Responsibilities :
Concept Finance :
- Align with the Concept Finance Leads on the budgeted sales and margins
- Review and ensure the approved season wise OTB and inward pattern is updated in RMS (Retail Merchandising System)
- Monitor inwards against norms (OTS and OTIF) and highlight exceptions
- Report on the season wise intake margins for the private brands
- Validate the PO for the external brands and follow up to ensure the PO is released as per the agreed margins
- Monitor season launch as per calendar and highlight deviations
- Provide support in monitoring the category level sell thru
- Review and ensure promos are implemented as per defined guidelines
- Review and ensure EOSS discounting guidelines are implemented as per agreed process
- Perform and share the promotion CBA with Concept Finance Leads
- Share reports on the performance of the private label vendors with the Concept Finance Leads (markdown, sell thru, margins etc.)
- Provide support in analyzing the brand profitability improvement plan
- Provide support in validating the actual versus agreed margins for the external brands
- Share updates on the impact of regulatory changes (opening of FDI in retail, government policy changes, custom duties, GST, change in market dynamics etc.)
- Adhere to the concept finance related SOPs and processes
- Prepare the forward cover and sales and margin report
- Generate and validate the MIS as per defined timelines
- Prepare the monthly review decks
Vendor Management (Private and External Brands) :
- Validate the new external brands in collaboration with the Concept Finance Leads as per defined norms and SOAs (brand equity, category financials etc.)
- Validate the new private brand vendors in collaboration with the Concept Finance Leads as per defined norms and SOAs (vendor financials, manpower, regulatory requirements etc.)
- Provide provisions and debit confirmations to Group Accounts towards various recoveries
- Provide support in reconciliation of brands- accounts (private and external)
- Track and ensure full and final settlement for exiting brands is done as per the defined process
Inventory Control :
- Follow up to ensure adequate action is undertaken on aged inventory (RTV, stock liquidation etc.)
- Provide support in aligning the NOD norms and ensuring adherence
- Analyze stock turn and GMROI and suggest corrective actions
Key Result Areas (KRAs) :
Finance :
- Margin achievement
- Revenue assurance
- P&L
- Brand profitability
- Inventory control
Customer :
- Vendor management
- Promo execution
Process :
- OTB
People :
- Values and CREATE behaviors
- Developing self
Special Initiatives :
- Special projects (individual specific)
Competency Framework :
Domain Competencies :
- OTB Management
- Revenue Management
- Inventory Control
- Brand Performance Management
- Process Management
- Regulatory Compliance Management
- Vendor Management
Functional Competencies :
- Planning
- Analytical Thinking (Customized for Concept Finance)
- Managing Change
- Problem Solving
Behavioral Competencies :
- Building Relationships
- Influencing
- Conflict Resolution
- Leveraging Feedback
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